Mortgage Points necessary to pay

[Shahzad Ali]

Hello everybody,

So shopping for a mortgage after getting an accepted offer i find out that we have to pay mortgage points on top of the closing cost when getting a mortgage.  Is there a way to bypassing that?  

[Kristen L Garner]

@Josh Young Is correct. I would ask your loan officer to show you options with less or no points. Your rate will go up, but that may make sense for your scenario. If you are using a nonQM product like DSCR and your plan is to refi, make sure you are clear on any prepayment penalties attached to your loan.